MANILA – State subsidy to government owned or controlled corporations (GOCCs) jumped in June because of a huge increase in the financial support given Philhealth.
Government data showed P17.46 billion in subsidy went to state-owned firms last month, vastly more than the P820 million in the same month last year.
Last month’s release more than doubled the six-month subsidy to P27.465 billion from last year’s P12.773 billion.
For the Philippine Health Insurance Corp alone, the government released P11.89 billion.
The subsidy would pay for the health insurance premiums of 4.953 million indigent families under the National Health Insurance Program, as well as of 6,500 beneficiaries of the Payapa at Masaganang Pamayanan (Pamana) Program.
Next to Philhealth, the second biggest recipient of government alms is the National Electrification Administration (NEA), which received P2.49 billion.
According to the Department of Budget and Management, the money NEA receives would be used to provide electricity to 32,441 sitios and 1,494 barangays under the sitio electrification project and barangay line enhancement project, respectively.
NEA is the government agency tasked with overseeing the operations of the country’s rural electric cooperatives, including lending them financial assistance to make up for their members’ refusal to pay the full cost of power they enjoy.
Another P2 billion went to the National Food Authority (NFA), which uses the money to buy rice from farmers at above-market rates. –Rain Castro, InterAksyon.com
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